Bridging Finance

A Property Investor

Description

A property investor had procured a contract to purchase a Freehold house in Acton W3. In order to secure the deal at a “below market” price, the investor agreed to exchange with the vendor within 7 working days and complete 2 weeks thereafter. Following a referral from his lawyer, he approached us for assistance. Having arranged to meet the customer on site with a view to saving time, we immediately agreed terms and appointed a panel valuer and solicitor to fast track the due diligence process.

The valuation and legal reports were completed prior to exchange and a facility letter was executed accordingly. The customer was surprised and delighted with the speed and simplicity of our process. It enabled him to exchange contracts with a peace of mind knowing that funds were secured for completion Following drawdown, our customer approached a commercial bank and obtained long-term finance within 3 months.

This investor /developer has since become a “repeat customer” having been impressed by our personal and speedy service.

Terms

CLIENT

Bridging Finance

ROLE

Property Investor

PURCHASE PRICE / "AUCTION" VALUE

£960,000

LOAN

£670,000

LTV

70%

TERM

6 Months

“What I liked about Silverstream was their personal commitment to my deal. You have direct access to a decision maker and there is simply no ‘red tape’. My business was important to them and they treated me like a “partner”.